BharatPe introduces ‘Shield’ to safeguard UPI transactions – CNBC TV18
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BharatPe Shield safeguards users against risks such as computer fraud, phishing attacks, and unauthorised transactions caused by phone loss.
A unique feature of the plan is its pre-reporting coverage, which allows users to claim losses incurred up to 10 days prior to reporting the fraud.
To encourage adoption, BharatPe is offering the Shield service for free for 30 days to first-time UPI users on the BharatPe app.
During this period, users are protected against fraud for transactions up to ₹5,000. After the introductory period, the service can be continued at a nominal fee of ₹19 per month.
Users can report fraud and raise claims through the app, chatbot, or a toll-free helpline, all available 24/7. This ensures quick response and resolution for affected users.
Speaking about the launch, Nalin Negi, CEO of BharatPe, said, “Safeguarding consumer transactions from online frauds and providing a safe and secure payments ecosystem has always been one of our foremost responsibilities. With BharatPe Shield, we are going a step further by empowering our users with a fraud protection plan that secures their daily transactions.”
BharatPe’s UPI service was launched in August 2024.
Users can perform transactions such as Scan and Pay, pay to UPI ID, bank transfers, and utility bill payments across categories like electricity, gas, and DTH.
First Published: Dec 5, 2024 2:10 PM IST
